Bank of Korea Governor Shin apologized at a National Assembly Finance and
Economy Committee oversight hearing on the 12th for failing to adequately warn
the public about risks from single-stock leveraged ETFs. He said that at end‑May
he did not fully grasp volatility in the domestic equity market, particularly in
the memory‑chip sector, and acknowledged the Bank’s June Financial Stability
Report assessment—that single‑stock leveraged ETFs could prevent domestic
capital outflows and help attract foreign inflows—was mistaken and inappropriate
given the circumstances.
